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Multi-Blockchain Platform Geeq Receives $25M 'Capital Commitment' From Investment Group GEM

Finance

www.coindesk.com 08 August 2022 12:35, UTC
  
Reading time: ~2 m

Multi-blockchain platform Geeq has received a $25 million 'capital commitment' from alternative investment group Global Emerging Markets (GEM).

Geeq's products aim to address problems such as security and transaction costs to encourage mass adoption of blockchain technology. It says its platform is designed for any blockchain application, allowing enterprise and individual users to integrate fintech, game tech, non-fungible tokens (NFTs) and micropayments, among other uses.

The platform is designed to ensure data reliability between organizations. It maintains fully permissioned audit trails so stakeholders can be sure everyone is working with the same information.

The "capital commitment" from GEM is designed to release the funds as performance milestones are met. It is reminiscent of the $200 million allocated to centralized-decentralized (CeDeFi) exchange Unizen, also a milestone-based and performance-related model to ensure the funding is optimized fully.

GEM's commitments therefore differ from traditional funding rounds in the way capital is injected into companies.

With the crypto industry facing uncertain prospects in the short- and medium-term, such "capital commitments" may become a more prevalent, less risky means of investing in digital asset firms.

Read more: Cybersecurity Protocol Naoris Raises $11.5M to Build Decentralized Proof-of-Security Consensus Mechanism


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